African Diamonds PLC
29 January 2008


African Diamonds Plc


29 January 2008



          Highlights of Chairman's Statement at the AGM, held in 
                    London 29th January, at 12 Noon


At the African Diamonds AGM held today, Chairman John Teeling commented on the
following:


The focus of the Company remains on Botswana and the development of the world
class AK6 diamond mine.

   • The AK6 mining licence is expected to be approved in the coming months.
    Full development financing is in place, with production scheduled for the
    end of 2009.

   • Our joint venture exploration programme with De Beers in Botswana is
    very active, with four kimberlites at an advanced stage of exploration and
    an additional 20 being assessed. A decision on AK8 and AK9 is expected in
    the next six months.

   • An extensive new exploration programme planned on our own acreage in
    Botswana.

   • Our associate companies, Bugeco in the DRC and West African Diamonds in
    Sierra Leone, are making significant progress.

   • Bugeco, in their joint venture with De Beers, has increased the size of
    some of the new kimberlites discovered. Two in particular look very
    promising.

   • In Sierra Leone, West African Diamonds has commenced production of
    diamonds and gold from the Plant 11 mine in Koidu. Sales contracts are
    arranged, with positive cash flow expected from February.

   • African Diamonds, has cash of £3m, no debt, a fully funded mine
    development and sufficient resources to fund exploration for the next few
    years.

   • Further funds will only be required if exploration is successful or
    development options arise on one or more of the current late stage
    exploration projects, in particular AK8 and AK9 in Botswana. We would
    welcome such an opportunity.

   • Commercial kimberlite discoveries are the holy grail of world
    exploration. Only 7,000 kimberlites have ever been discovered, of which 50
    have become mines and 17 have reached production. AK6 will join this elite
    group. It is remarkable that our portfolio may contain one or more
    additional discoveries.

   • All resolutions were passed at the meeting.


Further information:


African Diamonds Plc
John Teeling                   Tel: +353 1 8332833
Alex van Zyl                   Tel: +27 83 261 2956
James AH Campbell              Tel: +27 83 457 3724


Panmure Gordon
Dominic Morley                 Tel: +44 (0) 207 459 3600

College Hill
Paddy Blewer                   Tel: +44 (0) 20 7457 2020
Nick Elwes

                               www.afdiamonds.com




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